Ok now after the basics have been explained we cant just trade on charts with nothing.If you do so then its nothing more then a betting game and you have a better chance in Vegas.There are TONS of indicators out there some free others not.Which is better i have no idea cause to me indicators are by themselves nothing then that.Think of them as traffic lights on the roads.I will show you the indicators that i use and once again if i mess up or if you feel im using them wrongly please feel free to massage me and tell me im wrong.
There are basicly 2 kinds of indicators LAGGING and LEADING.As the name suggest Lagging means that its behind and its only recording what has already happened.Leading indicators on the other hand are giving you signals before things happen but they are more prone to false signals.
This is my personal view and feel free to correct me if im wrong.If anyone uses just ONE indicator then i hate to say this but you might as well withdraw your money and hit the tables.Indicators are nothing more then that , THEY indicate where the market was or is going.However trusting them too much will backfire causing you unnecessary lost.Now dont get me wrong and throw away everything.To me they are things i cant live without.Once again they are like traffic lights or road signs you dont like them but you cant live without them.
If anyone has seen a wall street brokers desk you would be awe struck by how many screens they have and how many indicators they have.For me i use a mix of lagging and leading to make up my mind about weather its time to enter or exit.At the same time the indicators tell me if the trend is strong or weak.The first ever indicator i set about using is the MACD............................................ bloody hell i cant open my client so i cant take pics althought i dont think anyone has come to this site yet i apologize for this stupid oversite and i will list and explain when i get a chance.
There are basicly 2 kinds of indicators LAGGING and LEADING.As the name suggest Lagging means that its behind and its only recording what has already happened.Leading indicators on the other hand are giving you signals before things happen but they are more prone to false signals.
This is my personal view and feel free to correct me if im wrong.If anyone uses just ONE indicator then i hate to say this but you might as well withdraw your money and hit the tables.Indicators are nothing more then that , THEY indicate where the market was or is going.However trusting them too much will backfire causing you unnecessary lost.Now dont get me wrong and throw away everything.To me they are things i cant live without.Once again they are like traffic lights or road signs you dont like them but you cant live without them.
If anyone has seen a wall street brokers desk you would be awe struck by how many screens they have and how many indicators they have.For me i use a mix of lagging and leading to make up my mind about weather its time to enter or exit.At the same time the indicators tell me if the trend is strong or weak.The first ever indicator i set about using is the MACD............................................ bloody hell i cant open my client so i cant take pics althought i dont think anyone has come to this site yet i apologize for this stupid oversite and i will list and explain when i get a chance.
MACD
RSI
Bolligerbands
Moving average
